A car is the ultimate financial black hole. This depreciating asset sucks up your current savings and future wealth.
For that reason, many frugal drivers share the dream of saving stashes of cash by pushing their cars to 200,000 miles — or beyond.
Even if you’re not a penny-pincher, driving the same vehicle for years on end can help you build a retirement nest egg or even just accumulate more “fun” money. However, a car doesn’t make it to 200,000 miles on its own. Instead, it needs a little extra TLC from its owner.
The following tips will help you increase the odds that your ride will last for at least 200,000 miles.
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1. Buy the right vehicle
It all starts with buying the right vehicle.